Kosmos opens Incubation hub …with US$300,000 seed funding

Kosmos Energy, as part of its effort to support the country’s start-up companies, has opened an incubation hub to grow and invest in these companies.

Known as the Kosmos Innovation Centre (KIC), the incubator space has a total area of 3,053sq/m and the capacity to train up to 25 start-ups.

The incubation hub currently has 14 start-ups under training, with about US$300,000 in seed funding.

The Chairman and Chief Executive Officer of Kosmos Energy, Andy Inglis, said the company will use the incubation hub to nurture the next generation of entrepreneurs and encourage innovation in other sectors beyond oil and gas.

This, he said, is the goal of the company in contributing to a healthy and more diverse economy for the country.

“We will train young entrepreneurs to see opportunities that others are missing by giving them the confidence to see themselves as business leaders.

“Kosmos Energy will also invest and position them to tackle tough problems in some key sectors, and create innovative solutions,” he said.

He said the KIC programme is different from others because it not only provides seed funding for these entrepreneurs, but they also receive some industry training from staff of Kosmos Energy as well as experts from the private sector.

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“While entrepreneurship programmes and pitch competitions are proliferating, we remain focused on execution and results.”

He said the centre will be a symbol of the company’s commitment to creating a good legacy beyond its core business.

“Many years from now, I want Kosmos to be remembered not just as the company that discovered commercial oil offshore, but as a true partner of the country that did its part to create economic opportunity and drive social progress,” he added.

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